PM’s committee forms sub-groups to facilitate IT exporters, freelancers

January 27, 2025 (MLN): To streamline efforts, the Prime Minister’s Committee on IT Export Remittances has decided to form two sub-working groups dedicated to Taxation and Banking, which will work towards resolving key barriers and simplifying remittance processes for IT exporters and freelancers.

This decision was discussed during a committee meeting chaired by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division, according to the press release issued today.

During the meeting, Participants decided that the sub-working groups would submit a consolidated report in the next meeting, with the final comprehensive report to be presented to the Prime Minister by the end of March 2025.

The meeting focused on reviewing the preliminary findings of the working group and formulating the next steps to enhance the flow of IT export remittances.

The Finance Minister appreciated the working group’s preliminary report and proposed expanding its scope by including representatives from the Pakistan Banking Association as well.

He underscored that currency stability has played a pivotal role in enhancing remittances and stressed the importance of policy continuity and consistency.

He emphasized the need to counter misconceptions about restrictions on companies’ financial operations, noting that there are no limitations on transferring money in or out of the country.

Bridging this perception gap through targeted communication and awareness campaigns was highlighted as a priority.

The committee also discussed incentivizing IT companies based on their performance to encourage growth and competitiveness.

Leveraging tools like the Roshan Digital Account and creating domestic payment solutions for global remittance facilitation were reiterated as vital measures to empower IT professionals and freelancers.

Reaffirming the government’s commitment, the Finance Minister urged all stakeholders to work collectively, address challenges, and establish Pakistan as a leading player in the global IT export industry.

Copyright Mettis Link News